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Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
 24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
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Cape 5TC daily average @ 51,472
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Kamsarmax 82 daily average @ 34,615
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Supramax 58 daily average @ 36,774
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Handysize 38 daily average @ 33,981
If at the beginning of the year 2021, around the period of Chinese Lunar Year, anyone would have predicted that by the middle of August during the peak of Northern Hemisphere summer, the market would have reached the above levels, everybody would laugh.
By the 4th of February 2021, the sub-Cape market had already spiked; the Panamax index was at 1,629 points and Supramax index at 1,139 points, with the first quarter of 2021 averaging well above Q42020 levels. The Capesize 5TC index averaged $17,054/day down -1.0% compared to Q42020, while the Panamax Tess 82 5TC index averaged $18,201 up +51.0% during the same period. Everyone at that time was surprised with the counter seasonal market rise driven by the smaller sizes, as well as the rise in asset values compared to September 2020 and commented that ships had gotten too expensive. Well, what can we say about the prices of today then?
In September 2020 a Panamax bc blt 2006 MV ELENA II with surveys due in q1 2021 had been concluded at low 8s. For comparison, in February MV AJAX got usd low 10s with surveys due promptly. As of the end of July, the 2007 blt MV CANEA got sold at rgn usd 17.7m.
We see similar asset value increases also in 2012 blt units with MV CORAL AMBER 78k dwt BWTS fttd getting mid-high 14s in December and sister ship CORAL AMETHYST without BWTS getting as usd 16/low 16s by the end of January. As of end of June, an exact sister ship 2013blt MV KAGARA got sold at usd 22m and a 2014blt MV ORIENT GENESIS at 23m. Today these 2 ships would expect to get more.
For younger tonnage with an electronic engine built in Japan, we have not seen much activity, last concluded sale being in May, MV IOANNA L built 2017 Tsunesishi Zhoushan at about 29m, but clearly at same levels a potential buyer cannot do repeat deal and generally the supply of such modern ships in the market has been limited for some time amid sellers holding for much better numbers and/or taking advantage of the lucrative daily earnings.
Even for the older units of about 20 years of age, owners now asking levels of about usd 12m or more for 2000/2001blt vessels. The calculations shipowners are making on such vessels is quite simple: They factor in how much the ship will earn basis today’s rates for one year i.e. about USD 7,5m then they add on top the demo value, about USD 5m. So the price comes in excess of USD12m. Similar asset value levels were observed in mid-2010, however it could also be a De Ja Vu of the year 2004, at the beginning of the previous boom, when 20 years old Panamaxes were fetching similar prices.
Let’s see how long the current boom will last. We all hope that It will last for long.
By Costas Hardalis,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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Showing 471 to 475 news of total 6871 |
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- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
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